Table 15.1 provides the carrying values of assets recognized on our consolidated balance sheet that we have pledged to third parties. Assets pledged in transactions where our counterparty has the right to sell or repledge those assets are presented parenthetically on our consolidated balance sheet.

VIE RELATED. We also pledge assets in connection with various types of transactions entered into with VIEs, which are excluded from Table 15.1. These pledged assets can only be used to settle the liabilities of those entities. We also have loans recognized on our consolidated balance sheet which represent certain delinquent loans that are eligible for repurchase from GNMA loan securitizations. See Note 12 (Securitizations and Variable Interest Entities) for additional information on consolidated and unconsolidated VIE assets.


(in millions)	Mar 31, 2026		Dec 31, 2025
Pledged to counterparties that had the right to sell or repledge:
Trading assets	$	149,500	145,519
Available-for-sale debt securities	—		563
Loans	1,136		1,161
Total assets pledged to counterparties that had the right to sell or repledge	150,636		147,243
Pledged to counterparties that did not have the right to sell or repledge:
Trading assets	6,574		6,953
Available-for-sale debt securities	158,729		150,765
Held-to-maturity debt securities	187,826		189,730
Loans	585,044		524,290
All other assets	947		1,183
Total assets pledged to counterparties that did not have the right to sell or repledge	939,120		872,921
Total pledged assets	$	1,089,756	1,020,164